Q. Dear Sir. My 40th birthday is approaching soon. My current salary package is around Rs.40 lakhs. However, in the name of investments, I only have accumulated some amount in my provident fund. Besides, I have acquired an apartment for which I am paying an EMI for last 7 years and still have to pay for eight more years. I have two young daughters and my wife is a house maker. Please suggest how can I secure my future. -Arun Singh, Mumbai
A. Dear Arun, “Better late than never”. First you need to ensure that you save at least 30% of your annual salary i.e. Rs. 12 lakhs in the whole year or Rs. 1 lakh per month. This amount of Rs. 12 lakhs should be prudently invested in a variety of schemes to ensure that your future is well secured and you are able to achieve all your important financial goals as well as take care of your retirement planning also.
We are suggesting you to split your savings of Rs. 12 lakhs in following investment/insurance schemes.
Please note that as you are approaching your 40th birthday, you must allocate 60% of your total savings in equity schemes by following the fundamental principle of financial planning that is 100 minus your age into equity. You should start five Sips of Rs 12000 each in different fund categories like large cap, mid cap, flexi cap and thematic fund etc. 10% of your total savings should be invested in Gold and that is why we are recommending you to invest Rs. 1.20 lakhs in Sovereign Gold bonds. We are confident that by taking these simple steps you will be able to secure a golden future for yourself. For more details, please contact the nearest Bajaj Capital branch and get your financial plan prepared.
Denne historien er fra December 2021-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 2021-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
ASK THE EXPERT
Ques. One of my friends told me that your company provides detailed Retirement plans. I want to know what is the procedure to get my Retirement plan. I will be retiring in March 2025. R.P Gupta, Noida
How to Naturally Reverse Fatty Liver Disease
The liver, located on the upper-right side of the abdomen, is the body’s largest internal organ and plays a critical role in detoxifying the blood and processing nutrients.
Banking sector which has underperformed in the last two years, now offers a favorable risk-reward profile
Do you think the market is overpriced? Is yes, should investors refrain from investing in index schemes at the current valuation?
India will continue to enjoy benefits of a close US relationship and trade will continue to grow
Q1. The US elections are said to be one of the closest till date, what impact will the election of a Republican / Democratic party have on the US economy and how is that going to affect India in the short as well as the long term?
Understanding Momentum Funds
Momentum funds are a type of investment fund that focuses on companies experiencing positive momentum in factors such as earnings, revenue, and stock price movement.
Risks and opportunities associated with Small Caps
Small-caps are a stock-picker’s paradise.
How to navigate your portfolio through bull market a
Indian equities have been in a bull run for the past four years.
Choosing mutual fund schemes depending on your age to achieve life goals
The choice of mutual fund (MF) scheme might be influenced by one’s risk profile or age.
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.
Be Kind To Your Kidneys
The kidney is a vital organ in our body which is four inches long and two and a half inches in width.
